The National Pension Commission (PenCom) has revealed that ₦5.51 trillion of pension assets have been invested in sectors driving Nigeria’s real economic growth. These include infrastructure, real estate, private equity, and subnational projects.
PenCom’s Director General, Ms. Omolola Oloworaran, disclosed this during a meeting with the International Monetary Fund (IMF) delegation on April 7, 2025, as part of the Fund’s Article IV Consultations. Represented by the Head of Surveillance, Abdulrahaman Muhammad Saleem, she emphasized the strategic importance of pension funds in long-term financing for national development.
The Commission reported that the industry’s Net Asset Value (NAV) rose by 22.65%—from ₦18.36 trillion at end-2023 to ₦22.51 trillion by December 2024. This growth was driven by consistent contributions and investment returns.
However, PenCom noted a major constraint: the scarcity of investable instruments that meet its minimum regulatory standards. Only 86 instruments currently qualify, limiting diversification opportunities despite provisions in existing investment regulations.
To address this, PenCom is collaborating with capital market institutions—including the SEC, DMO, and PenOp—to expand the range of eligible securities. The Commission also plans to scale up investments in alternative assets to boost returns and deepen portfolio strength.
The IMF delegation, led by Senior Financial Sector Expert Mr. Jose De Luna, commended PenCom’s regulatory oversight and applauded the industry’s steady growth. They also expressed confidence in PenCom’s role in ensuring long-term pension sustainability and economic development.
